Autor:
García, Carlos
We show that the simultaneous existence of two key elements in an open economy— decreasing returns and risk premium shocks to the exchange rate that violate the UIP—produce significant changes in the implementation of optimal monetary policy. First, we demonstrate that it is optimal to accommodat...
Enlace original:
https://repositorio.uahurtado.cl/handle/11242/6629
García, Carlos
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[Decreasing returns, risk premium shocks, and optimal monetary policy]
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Decreasing returns, risk premium shocks, and optimal monetary policy
